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Nifty Trading Plan for Second week of Sept 2023 Nifty End of Day Analysis Helps Traders to Understand the Nifty sentiment and Identify Potential Trading Opportunities for the Next Trading Day in Nifty future or Nifty option Nifty Support Nifty Support 1 - 19358 Nifty Support 2 - 19240 Nifty Support 3 - 19180 Nifty Resistance Nifty Resistance 1 - 19470 Nifty Resistance 2 - 19570 Nifty Resistance 3 - 19680 Nifty Trend Signal From Open Interest Analysis PCR ratio as per Option Chain Analysis - 1.1 ( Bullish) Max Pain As per Option Chain Analysis - 19400 Major Resistance as Per Nifty Open Interest Analysis - 19600 Major Support as Per Nifty Open Interest Analysis - 19300 Long Opportunity in Nifty for Intraday Trading On Friday Nifty took Support sustained above 19250 and Completed the Target of 19460 Tomorrow First Buying opportunity will be above 19360 and if the Nifty Open Gap up then the Buying opportunity will be Near 19460 or 19480 Nifty Short opportunity As we Know Nifty just changed a short-term downtrend, so Now don't expect big downside movement till Nifty goes below 19300 If nifty Sustain below 19570 then try to buy nifty Put or Short nifty keep a small stop loss and a small target If Nifty Goes below 19350 then Take a short trade for big targets If you Like our Trading Plan Please Like and Share
NSE:NIFTYLong
by manojshinde27
08 Sep ’23 Post Mortem on Nifty + discontinuation of I-CRR newsNifty Analysis Recap from yesterday “On the 1hr TF the W pattern worked out quite good. The next 2 resistance points will be 19786 and 19852 if we are continuing the breakout rally. If we were to fall the first support will be the resistance we just broke i.e. 19678 followed by 19581. For tomorrow I wish to continue my bullish stance unless the first support of 19678 is taken out in the first 2 hours.” Let the chart not deceive you, we really went up 142pts ~ 0.72% from the low to the high and today’s low was still above yesterday’s close. Since the chart was set to “Auto” resolution on “Log” scale - the up move may not look that much. What an impressive rally today, I assume most of the analysts would have switched their bias to the long side after yesterday’s show. Today’s outperformance was quite predictable still the near ATM call options had a humongous price swing. Option premiums usually rise when the uncertainty goes up - and seeing the rally today the price jumps in 20100, 20200, 20300 & 20500 were more than unusual. 20100 CE which closed for 5.45 yesterday opened at 6.5 and rallied upto 13.5 ~ 248% before closing at 9.35. We took out the first resistance point by 11.15 today and touched the 2nd resistance point by 14.15 to only close lower. The 2 resistance points are highlighted in orange horizontal lines. I was feeling quite carried away that the technical analysis was working exactly as in the script. Nifty falling in a bearish channel from 21st July and then breaking out from 1st Sep. Just today I realized the real reason behind this is the I-CRR news flow - read here. Remember the fall started when the RBI Governor announced the 10% increment in CRR in his last MPC address. Now there is news that 75% of it might be removed immediately. This was the reason the banks started rallying all of a sudden from 2pm on 6th Sep. Do you recollect the article I wrote about HDFCBK being the lone wolf fighting for banknifty? Now you might have understood how a 41% weightage on BankNifty can make a lot of difference. For Monday I wish to change the status from bullish to 50% bullish & 50% neutral - that's because I would like to wait for this news flow to get priced in. The euphoria and FOMO alone should drive Nifty50 to new ATHs, however I do not wish to get into new bullish positions till then.
NSE:NIFTYLong
by viswaram
Nifty levels - Sep 11, 2023Nifty support and resistance levels are valuable tools for making informed trading decisions, specifically when combined with the analysis of 5-minute timeframe candlesticks and VWAP. By closely monitoring these levels and observing the price movements within this timeframe, traders can enhance the accuracy of their entry and exit points. It is important to bear in mind that support and resistance levels are not fixed, and they can change over time as market conditions evolve. The dashed lines on the chart indicate the reaction levels, serving as additional points of significance to consider. Furthermore, take note of the response at the levels of the High, Low, and Close values from the day prior. We hope you find this information beneficial in your trading endeavors. * If you found the idea appealing, kindly tap the Boost icon located at the bottom right. We encourage you to share your thoughts and comments regarding it. Wishing you success in your trading activities!
NSE:NIFTY
by sacxe
Nifty daily analysis for 08/09/23.The market finally has given a nice trending move and has closed 116 point higher. On the hourly charts, nifty took a slight pull back and started moving in the upward direction slow. During the second half it gave the break out and travelled, finding resistance around 19730 levels. A nice bullish candle on the daily charts is showing some positivity and if the global markets support, nifty can travel higher. On 15 minute time frame, it constantly took support from 20 ema closed very bullish. Support :- 19640, 19550 Resistance :- 19785, 19845 The market has consolidated alot and the up move can continue owing to the G-20 summit. Wait for the price action near the levels before entering the market.
NSE:NIFTY
by TheMamboMomentum
Why I am expecting an extended move in NiftyI have shared nifty wave count on day chart. Apart from wave counting, you can see I have marked the length of wave 1 and wave 3, which is approximately equal in terms of %age, i.e. approx 10%. Well as per Elliot wave theory, one of the waves has to be longest. Usually the longest wave is wave 3, but if in case 1 and 3 is equal, chances is very high to have an extended wave 5. This is the reason why I am expecting an extended move this time in its 5th. Lets see how it goes from here. Keep learning guys. Best of luck
NSE:NIFTYLong
by LBilgir
07 Sep ’23 Post Mortem on Nifty Super rally in last 90 mtsNifty Weekly Analysis You may not believe that Nifty has added 444pts ~ 2.31% between the last expiry and today. The bulk of the moves came on 1st Sep and then today. On the weekly timeframe Nifty just broke out from the bullish flag consolidation formation signalling further fire power ahead. Will the global markets play spoilsport is the only question here. Nifty Today Analysis Recap from yesterday “Also the 14.15 green candle negates the 5 prior red candles creating a bullish ambience. For tomorrow, I wish to continue the bullish stance and the first target in sight would be to take out the next swing level of 19678.” It was not a surprise that when I posted the bullish view on tradingview minds this morning, I got a -4 downvote. Almost all the analysts were looking for bearish opportunities on Nifty and BankNifty and the opening moves would have given the illusion of downfall. We fell 71pts ~ 0.36% by 09.35 enough for most to go short and that too on expiry day. What happened after that was a reclamation of 19600 levels by Nifty, we even hit a new swing high of 19642 at 11.15. And honestly I thought thats it - we will consolidate sideways and end the day around those levels. I was totally surprised when Nifty rallied 144pts ~ 0.74% between 11.40 to 14.35. In fact I had 2 bullish CE long positions that I exited prematurely at a small profit. If I knew Nifty had more firepower to take out the 19700 today - I would have hung on to it & made a fortune 🙂 From a weekly expiry standpoint - the options premium near ATM and far OTM were real pathetic. Something that I realized today is that when we had BankNifty & Nifty expiring together - we could jump in and out on strikes that gave max bang for bucks. Since BN is now set to expire on Wednesdays, there are no more arbitrage opportunities. If the conditions like today persist in the foreseeable future - then option selling wont be able to attract a fresh crowd. On the 1hr TF the W pattern worked out quite good. The next 2 resistance points will be 19786 and 19852 if we are continuing the breakout rally. If we were to fall the first support will be the resistance we just broke i.e. 19678 followed by 19581. For tomorrow I wish to continue my bullish stance unless the first support of 19678 is taken out in the first 2 hours.
NSE:NIFTYLong
by viswaram
Nifty levels - Sep 8, 2023Nifty support and resistance levels are valuable tools for making informed trading decisions, specifically when combined with the analysis of 5-minute timeframe candlesticks and VWAP. By closely monitoring these levels and observing the price movements within this timeframe, traders can enhance the accuracy of their entry and exit points. It is important to bear in mind that support and resistance levels are not fixed, and they can change over time as market conditions evolve. The dashed lines on the chart indicate the reaction levels, serving as additional points of significance to consider. Furthermore, take note of the response at the levels of the High, Low, and Close values from the day prior. We hope you find this information beneficial in your trading endeavors. * If you found the idea appealing, kindly tap the Boost icon located at the bottom right. We encourage you to share your thoughts and comments regarding it. Wishing you success in your trading activities!
NSE:NIFTY
by sacxe
06 Sep ’23 Post Mortem on Nifty Unusual spike at 3pmNifty Analysis Recap from yesterday: For tomorrow I continue to maintain the bullish stance unless 19450 is broken. Nifty opened inline today and held its ground till 09.40 after which it started falling. The fall was not quick or scary but gradual and steady. We dropped 112pts ~ 0.58% by 13.35 and went down till 19491 from where we got a massive reversal. The level from which Nifty took support could be rounded off to 19500. Any further weakness would have triggered another round of selling and the breakout momentum would have been shot in the arm. Luckily we had a massive reversal, quite honestly I did not expect it to be this intense. Nifty gained back 145pts ~ 0.75% to close above the swing high at 19618. This is in line with the bullish technical analysis. If you look at the 1hr TF the W pattern still holds strong. Also the 14.15 green candle negates the 5 prior red candles creating a bullish ambience. For tomorrow, I wish to continue the bullish stance and the first target in sight would be to take out the next swing level of 19678. Unless any misadventures from SPX and NDQ overnight - we should be cruising upwards. Protective stop loss will be 19490 or below.
NSE:NIFTYLong
by viswaram
Nifty weekly expiry analysis for 07/09/23.Nifty gave a nice move and the last hour candle gave a nice up move after showing some selling in the market. There is a bullish engulfing candle on the daily charts and market is looking bullish as it has closed near day's high. On the hourly time frame, the market tested the 20 ema and closed above both the moving averages. The volume of the last hour are also high and there are chance of market showing some bullishness. Nifty consolidated in the first half, gave a downside trade and reversed making market bullish. On 15 minute time frame, the market formed a base around 19500 levels and closed above both the moving averages. Support :- 19500, 19430 Resistance :- 19650, 19730, 19785 Market for last 3 session has been following a trend of a selling and then closing near the day top. If the markets opening gap up, there are fair chance of market moving up wards as it will clear the crucial resistance zone. Watch for the option premium as it will be weekly expiry. Wait for the price action near the levels before entering the market.
NSE:NIFTY
by TheMamboMomentum
Nifty levels - Sep 7, 2023Nifty support and resistance levels are valuable tools for making informed trading decisions, specifically when combined with the analysis of 5-minute timeframe candlesticks and VWAP. By closely monitoring these levels and observing the price movements within this timeframe, traders can enhance the accuracy of their entry and exit points. It is important to bear in mind that support and resistance levels are not fixed, and they can change over time as market conditions evolve. The dashed lines on the chart indicate the reaction levels, serving as additional points of significance to consider. Furthermore, take note of the response at the levels of the High, Low, and Close values from the day prior. We hope you find this information beneficial in your trading endeavors. * If you found the idea appealing, kindly tap the Boost icon located at the bottom right. We encourage you to share your thoughts and comments regarding it. Wishing you success in your trading activities!
NSE:NIFTY
by sacxe
1
05 Sep ’23 Post Mortem on Nifty - Momentum not enoughNifty Analysis Recap from yesterday: I wish to go with a full bullish stance tomorrow wherein 19584 has to be taken out in the first 2 hours and the final close should be above 19600 . Although the price action looked as a continuation from yesterday - it did not have enough firepower to break the recent swing high of 19584 nor cross the 19600 threshold. NiftyIT again provided good support to Nifty today along with Pharma, FMCG and Energy. Positionally Nifty50 is in good shape to go higher, but for that this momentum wont be enough. During a strong uptrend, all the sub sectors also have to be in green. On the 1hr TF, Nifty has made a W pattern which indicates bullishness. As long as the 19450 level is intact this pattern will remain bullish. The moment Nifty breaks 19450 and goes near 19310 the W pattern will change shape and become like an M pattern. We also would like to wait and watch how the first banknifty expiry on wednesdays will impact the trajectory. For tomorrow I continue to maintain the bullish stance unless 19450 is broken.
NSE:NIFTYLong
by viswaram
Nifty daily analysis for 06/09/23.Nifty for last 2 days is forming a dragon fly doji after a gap up opening. The market after the opening is coming for a selling and than move slowly in the upward direction. On the hourly charts, it traded above both the moving averages and during the last hour recover giving close 46 points higher. The market has followed the same trend in previous trading session and if there is another gap up there are chance of market moving in the upside direction. On 15 minute time frame, it showed a downside trend and recover after the gap filling. It tested the 20 ema and in the mid hour traded around the levels. Support :- 19520, 19460 Resistance :-19580, 19620, 19720 Nifty has closed in green but the other index has closed in red. Indian Vix is dropping which means there can be a trending move and option premiums are not much. Carry on the trades with a proper trailing stop loss and an ultimate target. Wait for the price action near the levels before entering the market.
NSE:NIFTY
by TheMamboMomentum
Nifty levels - Sep 6, 2023Nifty support and resistance levels are valuable tools for making informed trading decisions, specifically when combined with the analysis of 5-minute timeframe candlesticks and VWAP. By closely monitoring these levels and observing the price movements within this timeframe, traders can enhance the accuracy of their entry and exit points. It is important to bear in mind that support and resistance levels are not fixed, and they can change over time as market conditions evolve. The dashed lines on the chart indicate the reaction levels, serving as additional points of significance to consider. Furthermore, take note of the response at the levels of the High, Low, and Close values from the day prior. We hope you find this information beneficial in your trading endeavors. * If you found the idea appealing, kindly tap the Boost icon located at the bottom right. We encourage you to share your thoughts and comments regarding it. Wishing you success in your trading activities!
NSE:NIFTY
by sacxe
NIFFY BEST LEVEL'S💲🤑O Description. 06 sep Nifty Actionable levels for Tomorrow #Current Price- 19577 Good #Resistance- 19677 Strong #Support- 19328 #Target we can expect 19638 and 19677 if a break of 19586 above ⬆️ Resistance level 🎚️ #Target we can expect 19441 and 19377 if a break of 19539 below ⬇️ Support level 🎚️ #Execution trade should be above or below from resistance or support levels 15-minute candle. Alerts ‼️🚨 this is Only for Education Purpose. Please Give your precious comments 🤞🏻 Thank you 🙏 AkashXtrade
NSE:NIFTY
by AkashXtrade
#nifty"Good morning! As of September 5th, the global market sentiment is neutral to slightly negative (based on the Dow Jones alone). The market trend is moderately bullish, and the market might open with a neutral to slight gap-down. After that, if the market declines, it will reach a demand zone. Structurally, it's a major demand zone, so once the market reaches there, we can expect a pullback. Alternatively, if it breaks the demand zone, then the correction is likely to continue. On the other hand, if the initial market takes a sharp pullback, then we can expect a range-bound market. Only if it breaks the major supply zone will it turn into a bullish continuation."
NSE:NIFTY
by Manickamtraders